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Bias-up, right? – If, Then… Market Timing

Bias-up, right?

By Rod David | September 23, 2008 - 11:12 am

[pay]The bias-up target was met and its buying pressure satisfied. But the bias-up signal held as support through 10:15, making any pullback likely to recover. We’ll see about that. A 14-point drop fell to 1208’00 and probed by a couple of lower lows while 1-min (not 3-min) MACD & RSI diverged positively.

Back above 1210’50 would signal that momentum had reversed back up, confirmed above 1212’25 and targeting 1217’25. Any higher would target a retest of session highs and probably higher.

If the bias-up environment and positive divergences can’t combine to trigger a bigger bounce, then there is much bigger selling pressure visible in the pipeline.

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Posted in Bias-parameters, S&P